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Thirlwall’s Law and Uneven Development

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  • Amitava Krishna Dutt

Abstract

Thirlwall’s analysis of balance-of-payments–constrained growth, and what has come to be called Thirlwall’s Law, have usually been used to understand the determinants of growth for individual countries. This paper argues that another important use of Thirlwall’s Law is to understand the mechanics of uneven development between rich and poor countries. To contribute to such an analysis the paper incorporates Thirlwall’s analysis into a model of North–South trade to show how it explains uneven development. The paper also points to the needfor empirical work necessary for relating Thirlwall’s Law to uneven development, which is different from the work related to the law that has proliferated in recent years.

Suggested Citation

  • Amitava Krishna Dutt, 2002. "Thirlwall’s Law and Uneven Development," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 24(3), pages 367-390, March.
  • Handle: RePEc:mes:postke:v:24:y:2002:i:3:p:367-390
    DOI: 10.1080/01603477.2002.11490331
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    References listed on IDEAS

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    8. Thirlwall, Anthony P & Hussain, Mohammed Nureldin, 1982. "The Balance of Payments Constraint, Capital Flows and Growth Rate Differences between Developing Countries," Oxford Economic Papers, Oxford University Press, vol. 34(3), pages 498-510, November.
    9. Findlay, Ronald, 1980. "The Terms of Trade and Equilibrium Growth in the World Economy," American Economic Review, American Economic Association, vol. 70(3), pages 291-299, June.
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    Citations

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    Cited by:

    1. Bilge Erten, 2010. "Industrial Upgrading and Export Diversification: A Comparative Analysis of Economic Policies in Turkey and Malaysia," Working Papers id:2778, eSocialSciences.
    2. Anthony P. Thirlwall, 2011. "Balance of payments constrained growth models: history and overview," PSL Quarterly Review, Economia civile, vol. 64(259), pages 307-351.
    3. Maria Carolina Basso, 2016. "A Economia Brasileira Sob Restrição Do Balanço De Pagamentos: Uma Análise Empírica Da Lei De Thirlwall No Boom Das Commodities," Anais do XLII Encontro Nacional de Economia [Proceedings of the 42nd Brazilian Economics Meeting] 089, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    4. Mario Cimoli & Gabriel Porcile, 2014. "Technology, structural change and BOP-constrained growth: a structuralist toolbox," Cambridge Journal of Economics, Oxford University Press, vol. 38(1), pages 215-237.
    5. Armon Rezai, 2015. "Demand and distribution in integrated economies," Cambridge Journal of Economics, Oxford University Press, vol. 39(5), pages 1399-1414.
    6. Rezai, Armon, 2016. "Demand and Distribution in Integrated Economies," Ecological Economic Papers 4814, WU Vienna University of Economics and Business.
    7. Sasaki, Hiroaki, 2018. "North-South Trade and Uneven Development in a Classical Conventional Wage Share Growth Model," MPRA Paper 88631, University Library of Munich, Germany.
    8. Nishi, Hiroshi, 2016. "A multi-sectoral balance-of-payments-constrained growth model with sectoral heterogeneity," Structural Change and Economic Dynamics, Elsevier, vol. 39(C), pages 31-45.
    9. A. P. Thirlwall, 2013. "Economic Growth in an Open Developing Economy," Books, Edward Elgar Publishing, number 15208.
    10. Arslan Razmi, 2015. "The Limits to Wage-Led Growth in A Low-Income Economy," Metroeconomica, Wiley Blackwell, vol. 66(4), pages 740-770, November.
    11. Robert A. Blecker, 2009. "Long-Run Growth in Open Economies: Export-Led Cumulative Causation or a Balance-of-Payments Constraint?," Working Papers 2009-23, American University, Department of Economics.
    12. Félix Jiménez, 2018. " Capacidad productiva, cambio técnico y productividad: Estimaciones alternativas del producto de largo plazo," Documentos de Trabajo / Working Papers 2018-454, Departamento de Economía - Pontificia Universidad Católica del Perú.

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